BTerrell Group Blog

The Who, What and When of Revenue Recognition Standard Updates

Posted by Brian Terrell on Tue, Feb 06, 2018

Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, is provoking a lot of questions—and for good reason. The who_what_when.jpgupdate essentially affects all businesses and requires some major updates to reporting and accounting practices. Read on to see if it applies to you, what you need to do, and when you need to make the necessary changes.

WHO is affected?

If you have contracts with customers for the transfer of goods and/or services, even if they are of the non-financial sort, this update will affect your business.

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Tags: RPA_Lead_Story

FINEXTRA: Robotic Process Automation: Taking the Robot out of the Human

Posted by Brian Terrell on Tue, Feb 06, 2018

As Business Process Management (BPM) continues to develop, one of the most exciting and high profile aspects of it is that of Robotic Process Automation (RPA). RPA is transforming organisations across all industries, leading experts to believe that it is one of the most transformational tools in current times. In this article we explore the benefits of RPA and why it is so transformational, along with an analysis of where it can be applied within the financial services sector.

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Tags: RPA_All

CIOL: Robotic Process Automation: A few things to know before you proceed

Posted by Brian Terrell on Tue, Feb 06, 2018

To grow their competitive advantage, businesses are now looking to invest in a set of digital technologies which will help them automate repetitive and monotonous tasks and instead focus on their core competencies. Therefore, an area of consideration for them is Robotic process automation (RPA). With intelligent software systems, RPA can help businesses to free up their resources for more strategic initiatives.

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Tags: RPA_All

Are you Prepared for Upcoming GAAP Revenue Recognition Changes?

Posted by Brian Terrell on Mon, Jan 29, 2018

Back in 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) released new guidance onRev_Rec2.jpg recognizing revenues in contracts with customers. Revenue recognition is essential for strong financial management and yet can be challenging for certain types of businesses, such as those managing recurring and deferred revenue.

As indicated in “Why Did The FASB Issue A New Standard On Revenue Recognition?,” posted on FASB.org, the proposal of new revenue recognition guidelines by the FASB and IASB were intended to clarify the reporting of financial statements that include the nature, timing, and uncertainty of revenue generated by certain types of contracts starting in 2018 for public companies and 2019 for private companies. 

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Tags: RPA_Lead_Story

ChannelNomics: VAR details life with robotic process automation

Posted by Brian Terrell on Mon, Jan 29, 2018

The £100m-revenue ($138m) VAR, based in the UK, has begun piloting RPA vendor Thoughtonomy's technology among its mid-market client base following an internal project that it claims has doubled the growth potential of its managed services business.

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Tags: RPA_All